Doray hits encouraging gold at Horse Well JV

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THE DRILL SERGEANT: Doray Minerals (ASX: DRM) has completed a round of RC drilling at the Horse Well project Joint Venture in the North East Yilgarn of Western Australia.

According to the company the drilling intersected high-grade gold mineralisation within the NW trending Dusk til Dawn Shear.

Doray signed a farm-in Agreement with Alloy Resources (ASX: AYR) over the Horse Well gold project in May where it can earn up to 80 per cent through the expenditure of $4 million within three years.

The Dusk til Dawn Prospect forms part of the Horse Well JV project and is considered by Doray to have potential to host a substantial gold deposit.

The prospect occurs in a structural embayment on the western edge of a granitoid body, in a similar setting to the Granny Smith gold deposit.

The recently completed RC drilling targeted the structure between holes ACDD001 and DDAC054 with two holes drilled towards the south west (azimuth 225 degrees), aiming to intersect the interpreted Dusk til Dawn mineralised shear structure at right angles for the first time.

DDRC001 intersected a wide zone of alteration and mineralisation and returned 65 metres at 2.6 grams per tonne gold from 50m, including a zone of high-grade gold in oxide material which returned 13m at 8.17g/t gold from 50m.

DDRC002, collared approximately 50m to the NE of DDRC001, intersected the Dusk til Dawn shear approximately 55m down dip and returned 21m at 0.7g/t gold from 140m.

 

Dusk til Dawn prospect, showing recent drilling. Source: Company announcement

 

“Dusk til Dawn was the first of a number of prospects identified for testing within the project and the latest results vindicated the company’s decision to enter into a Joint Venture with Alloy over the Horse Well project,” Doray Minerals managing director Allan Kelly said in the company’s announcement to the Australian Securities Exchange.

“These results highlight the significant potential of the project and confirm our belief that it could host economic, high-grade gold mineralisation.”

Doray said follow-up drilling is being planned for various targets at Horse Well, including at Dusk til Dawn, and will be scheduled to commence once heritage clearances are completed.

Email: info@dorayminerals.com.au

Website: www.dorayminerals.com.au